You need to register your domain with a domain registrar, which is generally a paid (but very cheap) service. Installing a DNS server on your VPS won't work, because other people need to connect your IP to your domain name first.
–
goldilocksJul 6 '13 at 11:28

OK I have registered the domain at my ISP, but the domain name points to servers they set up with my initail shared hosting web package. How do I change the record on the DNS servers to point to my static IP? thanks
–
DextrousDaveJul 6 '13 at 13:30

1

The DNS record at the registrar has to be be changed to reflect the new IP address. I believe the primary record often contains the address of a smaller DNS server (eg, at your ISP) which resolves the exact address. Anyway, if you registered at your ISP, then you have to get the record there changed. You can't do it, you have to ask them or use whatever automated interface they provide for such.
–
goldilocksJul 6 '13 at 14:12

Cool thank you. Please see my answer I am adding below, just for the ease of use of the editor...
–
DextrousDaveJul 6 '13 at 14:36

There I can point the domain names to my VPS Static IP address. So I believe that CPanel on the Shared Hosting Server integrates with their DNS record...so I can update it like it.

So, I believe my assumption is correct to say: When I remove my shared hosting account, there is no way I can change the DNS record for my domain name myself, but I will have to contact them to request them to change the records on their DNS servers - So that my domain name, that is registered with them, will point to my VPS static IP address.

In order to migrate your website or domain across the server (From shared server to VPS), Its better to take a full account cPanel backup from your old shared server with the help of cPanel. Either you can send that straight away using scp to other server or manually.
The manual way is, First create backup on the document root and wget to the new VPS.

wget domain.com/backupfile.tar.gz

Move this to VPS home folder (/home)

After this you can restore the package with WHM or cPanel script.

Using WHM

Home »Transfers >> Copy Multiple Accounts/Packages From Another Server

Now other issue is your DNS. What ever the name server you are using, Point that readily to the VPS(from corresponding registrar end) so that you can change the DNS even after the shared account killed.

Make sure that all the accounts(domains) are working perfectly in the VPS before switching the name server IP. You can check the domains with temp URL to make sure that its working perfectly. Otherwise you may get downtime to your domains.